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Real Estate Services Update

The Real Estate Services (RES) Update is designed to keep diversified real estate firms and their agents informed about issues affecting their businesses. This monthly newsletter includes legislative and regulatory updates, news on industry trends, and the latest information on NAR activities as they affect diversified real estate firms.

July 25, 2014
NAR plans to submit comments on the Federal Aviation Administration's (FAA) recent "Interpretation of the Special Rule for Model Aircraft", which specifically mentioned REALTORS® use of Unmanned Aerial Vehicles (UAVs) for taking property videos as being a commercial use and therefore prohibited under FAA policy.
July 18, 2014
On Thursday, July 17, the Senate approved S. 2244, the Terrorism Risk Insurance Program Reauthorization Act of 2014, by a vote of 93-4.
July 15, 2014
On July 14, 2014, HUD issued Mortgagee Letter 2014-15 allowing dual agency agreements in FHA pre-foreclosure transactions.
FHA
July 11, 2014
On Tuesday June 17, 2014, the Federal Reserve and Consumer Financial Protection Bureau (CFPB) held a webinar describing the forthcoming August 2015 changes to loan disclosures and settlement statements.
July 3, 2014
On June 30, 2014, NAR President Steve Brown sent a letter to Federal Housing Administration (FHA) Commissioner Carol Galante in support of FHA’s efforts to reduce mortgage insurance premiums for first-time buyers through its Homeowners Armed with Knowledge program, or HAWK.
FHA

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